FT MEADE 
GenCo 11 


SECTIONAL 

DOUBLE-ENTRY BOOK-KEEPING 


A PRACTICAL EASY METHOD 

SPECIALLY DESIGNED FOR 


SELF-INSTRUCTION OR CLASS WORK 





SECTIONAL 


(/ 

DOUBLE-ENTRY BOOK-KEEPING 


An Illustrative Treatise of the Fundamental Principles 


Designed for Home Study, Class Work or Text Reference 


C COMPLETE IN FIFTEEN PORTFOLIO SECTIONS 


J 


BY 


JOHN BRAMWELL 

'I 


y 


MEMBER NEW YORK SOCIETY OF ACCOUNTANTS AND BOOK-KEEPERS 


COPYRIGHT, 1913, BY JOHN BRAMWELL, NEW YORK CITY 


PRICE, $2.00 


PRESS OF 

O. H. LABARRE 
407 FOURTH AVENUE 
NEW YORK 








READ CAREFULLY 


When an employer seeks the services of a book-keeper the invariable 
question he puts is: “Do you understand double entry?” In many cases he 
will tell you that he is not a book-keeper himself so he wants someone who 
knows generally what should be done. But be sure of one thing—the man 
whose money is invested usually comprehends the real nature of his business 
better than you can tell him, and his chief desire is that you will keep his books 
correctly and systematically in a manner which he feels is satisfactory to him and 
suitable to his business requirements. Whether all the records peculiar to each 
particular line of business are made through two books or ten books; whether 
some of the books are ruled with five columns or two columns it will make very 
little difference if you properly understand the principles and application of 
double entry. This Treatise has been specially designed and arranged to impart 
a practical working knowledge of the subject for the private student at home or 
in class work, as well as for the business man’s reference. The work has been 
compiled in portfolio sections and printed on one side of the paper only so that 
the student can unbind the book and place the loose sheets before him while 
working; he is recommended to purchase a few cents worth of Ledger and Journal 
paper, prepare the headings from the portfolio sheets, then proceed to enter up 
all the detail transactions, using the portfolio sheet as a guide. No mistake can 
be made if the small reference numbers shown between brackets are properly 
watched and followed up in the order in which they appear, commencing with 
number One. By this method an unbound set of books is practically opened, 
used and closed in business. After that the student can have the pleasure and 
satisfaction of testing his ability by working through the process again and 
doubling all the amounts or adding as many more examples as he may choose, 
the one point to remember being that for every debit amount there must be an 
equal credit amount or vice versa. Remember also that the real high grade 
book-keeper is not a man of flash or flourish; simply because the very nature of 
the work requires thought, reason and understanding at all times. The figures 
appearing in the folio columns of the books are the cross references between the 
pages of the books used. In what is called the loose leaf system tick marks are 
generally used instead of page number. The Author will be pleased to answer 
any enquiries on the subject received from purchasers if they will refer to the 
serial number shown on this page as a reference. 

Respectfully, 


Serial No. 


JOHN BRAMWELL. 



OPENING BOOKS AND PREPARING FOR BUSINESS. 


1 


Commencing with the New Year (or any other given date) three persons namely: A. Aaron, B. Burr and 
C. Coe, arrange to enter into a joint partnership to conduct a General Store business : Aaron subscribes $500., 
Burr, $300. and Coe $200. (all in cash) to start the enterprise under the firm name of Aaron, Burr & Coe. 
There is also an agreement that they shall each draw out of the business a monthly salary —$100. for Aaron, 
$75. for Burr and $50. for Coe. All profits or losses (as the case may be) are to be divided between them in the 
same proportion as their original cash investments. Books required are Cash Book, Journal and Ledger. 

This information regarding the enterprise should be concisely stated as the first entry of record in the 
JOURNAL (1). This entry is not posted anywhere but simply remains a record. 

The $1,000. in cash constitutes in manner shown the first entries on the debit (or left hand) side of the 
CASH BOOK (representing cash received) and opens the three partners’ accounts in the ledger (2) by crediting 
each of them for the respective amount put into the business. 

Note : Cash Debit $1,000. Three partners’ accounts Credit $1,000. 


Jan. 3d. They rent from D. Dickey a suitable store at a rental of $100. per month, payable in advance, 
and pay cash for the first month’s rent. (This account is opened in the ledger under the name of “ Rent A/C.”) 

This is the first entry on the credit (or right-hand) side of the CASH BOOK (representing cash paid out) 
and the amount is posted to the debit side of “ Rent account.” (3). 


Jan. 5th. Contracted with F. Fair to provide Office and Store furniture and fixtures to the full amount 
of $300., paying $200. cash down and receiving a bill for $100. on credit. 

See CASH BOOK (right-hand credit side) for the $200. paid out under entry called ‘‘Furniture and 
Fixtures,’ and entry in JOURN AL for the $100. debiting ‘‘Furniture and Fixtures” and crediting F. Fair’s 
account for the $100. owing. (4) (5). Note: ‘‘Furniture and Fixtures” account in Ledger is debited for 
$300,. the corresponding credit being $200. in the Cash Book and $100. in Fair’s account. 


Jan. 6th. Engaged two clerks at a salary of $50. each per month. This account in the Ledger can be 
called either “ Wages ” or “ Pay Rolls.” (See entry on credit side of Cash Book (28) posted to debit side of 
Ledger under ” Wages.”) Of course this entry of wages paid would not occur until the end of each month or 
week as the case may be. 


Jan. 7th. Purchased on credit from the wholesale house of G. Gray an invoice of general merchandise 
amounting to $500. Terms, less discount of 5% for payment within 30 days. (6). 

Also purchased on credit from H. Hanna a line of sundry notions, etc., amounting to $250. less a discount 
of 3% for payment within 10 days. (7). On receipt of these bills two separate entries should be made in the 
JOURNAL as shown debiting ‘‘Merchandise Purchase A/C” and crediting the Gray and Hanna firms 
respectively for the amounts named. Note : Mdse Purchase A/C becomes debited for $750. in all, and the two 
firms credited for the same amount. If you return any Mdse, reverse the form of Journal entry and posting. 


Jan. 8th. Purchased for cash from the Independent Supply Co., paper, twine and other similar necessary 
articles for $25. 

This entry appears on the right-hand side of the CASH BOOK as “ Expense Sundry Supplies.” (8). 
Note : Cash is given Credit for the amount spent and General Expense Account is debited with the value of 
articles purchased. 


If we survey the situation at this stage we see that the firm has opened its books of record and declared 
its business purposes backed up with a cash investment of $1,000. They have paid out in money $325. leaving 
a net balance in hand of $675. against which there is $850. owing for merchandise and furniture, two clerks 
salaries coming due and each partner expecting to get a living out of the business. It is true they have in the 
place $750. worth of merchandise ; $300. worth of furniture and fixtures and $25. worth of supplies—at cost 
price to them — but, if an emergency should arise for turning all this back into cash they would not in all 
probability realize more than half the original value. This demonstrates therefore the necessity of commencing 
at the start and continuing to do business on the basis of sufficient profit to not only pay your merchandise bills 
but also to cover current and accruing expenses as well as depreciation in values, and still leave something worth 
while for the partners, and the books of the firm should at all times be in condition to show approximately what 
value the business has to it. 


Portfolio Section 1. 


COPYRIGHT. IBIS, BY JOHN BRAMWELL, NEW YORK CITY. 


COMPLETE IN FIFTEEN SECTIONS 
















CONDUCTING BUSINESS. 


2 


Jan. 10th. Opening Day. Total amount of cash sales, $42.24. 

See entry on debit (left-hand) side of CASH BOOK for this and all following daily total of sales (9). 
NOTE : Cash is debited each day in these separate amounts and Merchandise Sales account is credited at end of 
month for the total amount; reason for using extra column in Cash Book. 


Jan. 11th. Firm takes out policies of Fire Insurance with J. Jeopardy for $2,000. on the merchandise 
stock, and $300. on the Furniture and Fixtures, the total amount of premiums on these policies amounting to 
$20. for which Mr. Jeopardy sends in his bill in the usual manner. 

See JOURNAL entry debiting “Insurance” account and crediting the account of J. Jeopardy with this 

$ 20 . ( 10 ). 

Total amount of cash sales, $67.19. 


Jan. 12th. Total amount of cash sales, $54.22. 


Jan. 13th. Total amount of cash sales, $60.14. 


Jan. 14th. Ordered and received a further special line of goods from G. Gray, amounting to $150. Make 
similar JOURNAL entry to No. 6 (11). 

Total amount of cash sales, $46.82. 


Jan. 15th. Isaac Innes, a small dealer, buys a bill of goods amounting to $100. and gives his note due for 
payment in 30 days with interest at six per cent per annum. 

See JOURNAL entries; first one debiting the account of Innes with his purchase and crediting “ Mer¬ 
chandise Sales” account for the goods sold; second one debiting “Bills Receivable” account and giving Innes 
credit for his note (which is presumed to be as good as cash) (12-13). If any merchandise is returned to you 
make Journal entry in reverse form of No. 12. 

Total amount of Cash Sales, $55.12. 

Bills Receivable, sometimes called Notes Receivable, is a Cash promise account representing principally 
yourself or in other words money coming to you at some future date from your debtor. Ready money, checks, 
money orders, etc., which you can immediately realize on are considered as good as CASH IN HAND, but a note 
promising to pay you an amount in thirty, sixty or ninety days, for instance, is only a piece of paper until you 
find at the end of the promised period whether or not it is exchanged or taken up for the real Cash settlement. 
Hence the use of “Bills Receivable” account as distinguished from the actual cash account. 


Jan. 17. Borrowed from King’s Bank $500. and gave our note at 30 days with 6 % per annum interest. 
Usually the bank discounts the note by deducting the interest ($2.50) and handing over $497.50 in cash or 
placing to credit of deposit in Bank Book. 

See entry on debit (left-hand) side of CASH BOOK reading “Bills Payable” for the full amount of $500. 
(which charges cash with receiving that much and credits Bills Payable account (14). 

At same time on credit (right-hand) side of CASH BOOK make the entry for $2.50 (as though you had 

paid it away) for the discount on this note charging “Interest and Discount” account. This will practically only 
leave $497.50 net for the amount received in cash (15). 

Total amount of Cash Sales, $76.33. 

Bills Payable, sometimes called Notes Payable, is a cash promise account representing principally your¬ 
self, or in other words money to be paid by you at some future date to your creditor. You sign a note promising 
to pay to another party a certain sum of money on a certain given date, but this note at best is only a piece of 

paper backed up by a promise: the real transaction is when it is taken up or exchanged for actual cash settle¬ 

ment. Hence the use of “Bills Payable” account. 

If you purchase mdse, and give your note promising to pay for same you would then make two Journal 
entries of the transaction; one to debit the Mdse. Purchase Account and credit party from whom you buy; the 
other to debit party from whom you buy and credit Bills Payable account—all for the same amount. Similar 
to the Innes examples—12 and 13. 


Jan. 

18. 

Total amount of Cash Sales, $54.12. 



Jan. 

19th. 

Total amount of Cash Sales, $48.73. 




Jan. 20th. Paid F. Fair balance of bill for furniture and fixtures, $100. See right hand (credit) side of 
Cash Book (16) and post to the debit side of F. Fair’s account. 

Total amount of Cash Sales, $52.10. 

Portfolio Sbction 2. 


COPYRIGHT IB13, BY JOHN BRAMWELL, NEW YORK CITY. 


COMPLETE IN FIFTEEN SECTIONS 
































CONDUCTING BUSINESS. 


3 


Jan. 21st. Paid George Gray the first bill of $500. taking off the 5%> discount. 

See right hand (credit) side of CASH BOOK, showing as though $500. had been paid out (17) and debit 
account of George Gray. But notice left hand (debit) side of CASH BOOK under entry called “ Interest and 
iscount ’ $25. representing the amount you have kept out of the $500. paid to Gray (your check to Gray of 
course having been written for $475.) (18). Note: This creates a debit of $25. for Cash received for 

equivalent) and is posted as a credit to “ Interest and Discount.” 

Total amount of Cash Sales $60.00. 

Jan. 22d. Paid H. Hanna his bill of $250. net. 

See right hand (credit) side of CASH BOOK (19), posted as a debit in account of H. Hanna. 

I otal amount of Cash Sales $49.12. 

Jan. 24th. Total amount of Cash Sales $50. 

Jan. 2oth. Innes pays his note for $100. with fifty cents interest. 

(This payment is not due until February 14th, but it is represented here to carry out the example.) 

See left hand (debit) side of CASH BOOK charging Cash with $100. and crediting “Bills Receivable” 
account (20). 

Also entry on same side of CASH BOOK showing cash is debited with the receipt of fifty cents and 
Interest account credited (21) for the same amount. 

_ Total amou nt of Cash Sales $47.36. 

Jan. 26th. Note for $500. borrowed from King’s Bank is repaid. 

(Repayment is not due until February 16th, but entry of it is made here to carry out the example ) 

See entry on right hand (credit) side of CASH BOOK which credits the payment of Cash and debits 
Bills Payable ” account (22). 

Total amount of Cash Sales $46.24. 

Jan. 27th. Total amount of Cash Sales $56.17. 

Jan. 28th. Total amount of Cash Sales $63.18. 

Jan. 29th. Total amount of Cash Sales $75.00. 

Jan. 31st. Paid monthly bills for Freight and Express service $10., for Electric Eight, Coal and other 
sundries, $20.; also salaries of $100. to Aaron, $75. to Burr, $50. to Coe, and $100. to the two clerks. 

For all these entries see right hand (credit) side of CASH BOOK—(23, 24, 25, 26, 27, 28) and debit 
Freight and Express, General Expense, the three Partners and Wages accounts accordingly in posting into the 
Ledger. 

Total amount of Cash Sales $72.29. 

Now, being the close of the month, add up the total of your “Sales” column in the CASH BOOK 
(Debit side) which you will find comes to $1,076.37 and post this to the Ledger on the credit side of “ Merchandise 
Sales” account in one amount (29). 

Also add up the total of “ General ” column which you will find to be $1,625.50 and which you will see 
is already posted. The two amounts put together will give you $2,701.87 which represents Total CASH 
RECEIPTS. Add up the total on the opposite or credit side of CASH BOOK (making $2,032.50) representing 
Total CASH PAYMENTS and by deducting this amount from the total receipts it shows that you have left a 
cash balance of $669.37 ; add this balance and it will enable you to rule off your Cash Book on even amounts 
both sides. Care must be taken to always carry down the balances to commence each following new month or 
period as shown. 

Having now done business for one month (or any other given period) and all the transactions passing 
through the Journal and Cash Book being properly posted into the Ledger, a Trial Balance should be taken 
to ascertain if all the Ledger accounts relatively agree ; if they do not do so, something has gone wrong. The 
Trial Balance (Portfolio, Sec. 13) is prepared by taking the balance of all cash from the Cash Book ; then from 
each account appearing in the Ledger (excepting such as balance or rule off even) showing the amount of 
difference as a debit or a credit item whichever side of the Ledger it happens to be on. When this is done it 
should result in the total of the debit and credit columns both footing up the same amount. The primary object 
of a monthly Trial Balance is to verify all entries having been carried into the Ledger ; it is also valuable at 
times as a record of interest or comparison as to how certain different accounts are running. 

After obtaining your correct Trial Balance as per example, proceed to close your books as though you 
had done a business of one fiscal year or any period selected. 


Portfolio Section 3. 


COPYRIGHT, 1913 , BY JOHN BRAMWELL. NEW YORK CITY. 


COMPLETE IN FIFTEEN SECTIONS 



















































CLOSING THE BOOKS AT END OF YEAR (OR ANY PERIOD). 


4 


Open a “ LOSS and GAIN ” account in the Ledger. 
This is sometimes called a “ Profit and Loss ” account. 


Make a detailed list or INVENTORY (30) (See Portfolio, Sec. 14) of all merchandise stock on hand, also 
of anj supplies at their COST Y ALUE, as well as a record of the amount of Insurance Premiums or Interest 
vou have paid ahead. In this case the firm of Aaron, Burr & Coe, find that they have merchandise stock on 
hand at midnight of January 31st, valued at $248.63 cost; supplies $7.50 and Insurance premiums paid 345 days 
ahead of expiration which figures $18.90. Enter these several amounts direct in red ink on the right hand or 
credit side of the LEDGER under the respective accounts—“Merchandise Purchase,” “General Expense’’ and 
Insurance, using the terms “Inventory” for the first, “Supplies on hand” for the second and “Unearned Pre¬ 
miums” for the last account, (31). 


Assuming that the wear and tear or what is called “depreciation” on the Furniture and Fixtures has been 
one per cent for the month (some firms write off ten per cent per annum), we will write off in red ink the amount 
of $3. which is charged against LOSS and GAIN account, and credited to “Furniture and Fixtures” account 
(32) with the phrase “LOSS-depreeiation.” Fill in the necessary amount to balance even in red ink ($297.00) 
then rule off. Carry down your new balance. 


Turn to “Merchandise Sales” account and find what debit balance is required to rule off the account even 
($1176.37). Enter this amount direct in red ink on debit side saying “Merchandise Purchase” account and 
carry same amount to credit side of latter account (33). Then rule off Merchandise Sales account. 


The “Interest and Discount” account needs a debit balance of $23. to rule it off. Enter this amount in 
red ink direct on debit side saying “ Gain ” and carry to credit side of LOSS and GAIN account. Then rule off 
Interest and Discount account (34). 


Balance and rule off the “ Rent” account by placing the necessary amount ($100.) on the credit side of 
Ledger in red ink saying “Loss” and carrying the same amount (direct) to the debit side of Loss and Gain 
account (35). 


Credit “ Wages” account direct in Ledger in red ink with $100. (to balance) saying “ Loss” and carry to 
debit side of Loss and Gain Account (36). Rule off Wages account. 


Find what difference is required to balance and rule off “ Insurance” account ($1.10) and enter it direct 
in red ink on credit side of Ledger saying “Loss” carrying same (direct) to the debit side of Loss and Gain 
account (37). Rule off Insurance account and bring down unearned amount. 


“ Freight and Express,” and “General Expense” accounts treat in the same manner as the foregoing 
“ Rent” and “ Wages” accounts (38, 39). Then rule off these accounts. 


Take Merchandise Purchase account and find balance required to rule off ($525. on debit side). Enter the 
amount direct in red ink saying “ Gain” and carry to credit side of Loss and Gain Account (40). Then rule off 
Merchandise Purchase account, bringing down your new Inventory amount. 


Find amount required to balance and rule off “Loss and Gain” account ($296.40 on debit side) and divide 
this amount up debiting Loss and Gain account in red ink with the separate items and crediting each Partner’s 
account in proportion to their original investment as agreed which would be 5/10, 3/10 and 2/10 or in money 
Aaron $148.20, Burr $88.92 and Coe $59.28 respectively. Then rule off Loss & Gain account. 

Balance and rule off the three Partner’s accounts (41, 42, 43), last of all in manner shown and bring down 
new balances. 


Under date of February 1st, do not forget to bring down the new balances of the following accounts— 
Merchandise Purchase, Supplies, Furniture and Fixtures, Insurance and the three Partner’s accounts to start the 
new term (44, 45, 46, 47, 48, 49, 50). 


Portfolio Section 4. 


COPYRIGHT, 1013, BY JOHN BRAMWELL. NEW YORK CITY. 


COMPLETE IN FIFTEEN SECTIONS 




























o 


LEDGER 

FOLIO 


8 

10 


9 

10 


9 

10 


12 

11 


9 

10 


10 

9 


9 

10 


JOURNAL 


JANUARY, 1913 


-2nd-*- 

Messrs. A. Aaron, B. Burr and G. Goe having agreed to enter into a 
joint partnership to conduct a general department store business under 
the firm name of Aaron, Burr 8 Goe, they commence business this date 
with a Gash Capital subscribed as follows: 

Aaron, $500.; Burr, $300.; Goe, $200.; and agree to divide Gains or 
Losses arising from the business in same proportion as their Invested 
Gapital. They also determine that the business shall pay each of them 
the following monthly salaries: Aaron, $100.; Burr, $75.; Goe, $50. (1) 


DEBIT 


- 5th- 

Furniture and Fixtures (5) 

To F. Fair 

Invoice of Jan. 4th for Store Fittings, etc., in total amount of $300. 
Paid in cash $200. Balance due $100. 

-7th- 

Mdse. Purchase A/c. (6) 

To George Gray 

For goods as per Invoice dated January 6th on file. 

Terms, 5% Discount for payment in 30 days. 

-7th - 


100 


500 


Mdse. Purchase A/c. (7) 

To H. Manna 

For invoice of goods dated January 5th on file. 
Terms, 3® Discount for payment in 10 days. 

-11th - - 


250 


Insurance (10) 

To J. Jeopardy 

For premiums on following policies of Fire Insurance. 
Mdse. Stock $2,000- Premium $16.00. 

Furniture and Fixtures $300. Premium $4.00. 

—-14th 


20 


CREDIT 


100 


250 


Mdse. Purchase A/c. (H) 

To G. Gray 

For goods as per invoice dated January 13th on file. 
Terms, Discount 30 days. 


150 


150 


----15th 

Isaac Innes (12) 

To Mdse. Sales 

For goods purchased as per detailed bill of this date. Accepted Mr. 
Innes’ note at 30 days’ with interest at 6 % per annum in payment. 

_—--15th- 

Bills Receivable A/c. 0 3 ) 

To Isaac Innes 

Note at 30 days’ due February 14th with 6% per annum interest for 
Mdse, purchased this date. 


100 


100 


1220 


100 


100 


1220 


Portfolio Section 5. 


COPYRIGHT. IBltfBY JOHN BRAMWELL, NEW YORK CITY. 


COMPLETE IN FIFTEEN SECTIONS. 

























































6 


DEBIT SIDE 


CASH BOOK 

RECEIPTS 


LEDGER 

FOLIO 

JANUARY, 1913 

SALES 


2nd 

A. Aaron, Gash Gapital Invested— 

B. Burr “ “ “ ( 2 ) 

G. Goe 




8 

8 

8 





Gash Sales (9) 

IlfE 

42 

24 


lien ---- 

Gash Sales 

-—-- Ofh 

67 

19 


I<£UII -—- 

Gash Sales 

_ jofv. 

54 

22 


ioun — 

Gash Sales 

60 

14 ( 


ln-un 

Gash Sales 

- - 1C f h 

46 

82 


id in 

Gash Sales 

55 

12 

9 

i / in 

Bills Payable (Note of Kings Bank.) (14) 

Gash Sales 

_ IQfh 

76 

33 


loin 

Gash Sales 

- IQJ-h 

54 

12 

i 


i l n 

Gash Sales 

pnt-h 

48 

73 


III 

Gash Sales 

- Olcf 

52 

10 

11 

^ 1 Si 

Interest and Discount (Discount on Note of G. Gray). (18) 

Gash Sales 

60 



Gash Sales 

49 

12 


Gash Sales 

50 


9 

11 

Bills Receivable (Innes’ note). (20) 

Interest and Discount (Interest on Innes’ note). 
Gash Sales 

(21) 

47 

36 


Gash Sales 

?7fh . 

46 

24 


l Lll 

Gash Sales 

OQJ-h 

56 

17 


- — O L 11 

Gash Sales 

pqf h 

63 

18 


^ iv Lll 

Gash Sales 

75 

00 


Gash Sales 


72 

29 

9 

Total Merchandise Gash Sales for month. (29) 

Total Gash Receipts. 

1076 

37 


FEBRUARY 1st 

Balance down. 




GENERAL 


500 

300 

200 


500 


25 


100 


1625 

1076 


2701 


669 


50 


50 

37 


87 


37 


Portfolio Section 6. 


COPY RIGHT, 10 IS, BY JOHN BRA M W ELL. NEW YORK CITY. 


COMPLETE IN FIFTEEN SECTIONS. 




































































































6 


CASH BOOK 



COPYRIGHT, 1013, BY JOHN BRAMWELL, NEW YORK CITY. 


COMPLETE IN FIFTEEN SECTIONS. 

























































































DEBIT SIDE 


LEDGER 


CREDIT SIDE 


8 


A. AARON. Capital A/c. 


1913 



Folio 



1913 



Folio 



Jan. 

29 

Cash. Salary Jan. (25) 

6 

100 

00 

Jan. 

2 

Cash. Investment (2) 

6 

500 

00 


31 

Balance. 


548 

20 


31 

Gain. (41) 

12 

148 

20 





648 

20 





648 

20 







Feb. 

1 

Balance down (48) 


548 

20 


B. BURR. Capital A/c. 


1913 

Jan. 

29 

31 

Cash. Salary Jan. (26) 

Balance. 

6 

75 

313 

00 

92 

1913 

Jan. 

2 

31 

Cash. Investment (2) 

Gain. (42) 

6 

12 

300 

88 

00 

92 





388 

92 





388 

92 

i 




\ 


Feb. 

1 

Balance down (49) 


313 

92 

i 


C. COE. Capital A/c. 


1913 






1913 






Jan. 

29 

Cash. Salary Jan. (27) 

6 

50 

00 

Jan. 

2 

Cash. Investment (2) 

6 

200 

00 


31 

Balance. 


209 

28 


31 

Gain. (43) 

12 

59 

28 





259 

28 





259 

28 

a 






Feb. 

1 

Balance dow?i (50) 


209 

28 


FURNITURE and FIXTURES. 


1913 






1913 






Jan. 

5 

Cash. F. Fair (4) 

6 

200 

00 


31 

Loss. Depreciation. (32) 

12 

3 

00 


5 

Invoice % do. (5) 

5 

100 

00 


31 

Balance. 


297 

00 





300 

00 





300 

00 

Feb. 

1 

Balance down (46) 


297 

00 








Portfolio Section 8. 


COPYRIGHT, 1913, BY JOHN BRAMWELL. NEW YORK CITY. 


COMPLETE IN FIFTEEN SECTIONS 












































































































DEBIT SIDE 


LEDGER. 


CREDI T SIDE 


9 


MERCHANDISE PURCHASE. 


1913 



Folio 



1913 



Folio 



Jan. 

7 

G. Gray. Inv. 1/6. (6) 

5 

500 

00 

Jan. 

31 

Inventory. (31) 


248 

63 


7 

H. Hanna. Inv. 1/5. (7) 

5 

250 

00 


31 

Mdse. Sales. (33) 

9 

1176 

37 


14 

G. Gray. Inv. 1/13. (11) 

5 

150 

00 








31 

Gain. (40) 

12 

525 

00 











1425 

00 





1425 

00 

Feb. 

i 

1 

Inventory. (44) 


248 

63 








BILLS RECEIVABLE. 


1913 

Jan. 

15 

I. Innes. Note 30 days. (13) 

5 

100 

00 

1913 

Jan. 

25 

Cash. Innes' note. (20) 

6 

100 

00 

■ 













MERCHANDISE SALES. 


1913 






1913 






Jan. 

31 

Mdse. Purchase. (33) 

9 

1176 

37 

Jan. 

15 

/. Innes. Bill rendered. (12) 

5 

100 

00 








31 

Cash Sales. (29) 

6 

1076 

37 





1176 

37 





1176 

37 














BILLS PAYABLE. 


1913 

Jan. 

26 

Cash. Note Kings Bank. (22) 

6 

500 

00 

1913 

Jan. 

17 

Cash. Note Kings Bank. (14) 

6 

500 

00 














Portfolio Section 9. 


COPYRIGHT, 1013, BY JOHN BRAMWELL, NEW YORK CITY. 


COMPLETE IN FIFTEEN SECTIONS 
































































































LEDGER. 


10 


DEBIT SIDE 


CRED1T SIDE 


F. FAIR. 22 Seventh Street. 


1913 

Jan. 


20 


Cash. (16) 


Folio 
6 


100 


00 


1913 

Ja?i. 


1 


Furniture and Fixtures. (5) 


Folio 


100 


00 


G. GRAY. 102 Oldham Road. 


1913 

Jan. 


21 


Cash. (17) 


6 500 


00 


1913 

Jan. 


7 

14 


Invoice 1/6. (6) 

Do. 1/14. (11) 


5 

5 


500 

150 


00 

00 


H. HANNA. 16 Lever Street. 


1913 

Jan. 


22 


Cash. (19) 


250 


00 


1913 

Jan. 


Invoice 1 /o. (7) 


250 


00 


I. INNES. 724 Paisley Road 


1913 

Jan. 


15 


Mdse. Bill rendered. (12) 


100 


00 


1913 

Jan. 


15 


Bills Rec. Note due 2/14. (13) 


100 


..00 




Portfolio Section 10. 


COPYRIGHT, 1913, BY JOHN BRAMWELL. NEW YORK CITY. 


COMPLETE IN FIFTEEN SECTIONS 
































































































































LEDGER. 


11 


DEBIT SIDE 


CREDI T SIDE 


1913 


J. JEOPARDY. 18 Sackville St. 
1913 


I Folio 


Jan. 


11 


Insurance Premiums. (10) 


Folio ! 

5 20 ! 00 


RENT. 


1913 

Jan. 


Cash. January month. (3) 6 100 00 


1913 

Jan. 


31 


Loss. (35) 


12 


100 00 


WAGES. 


1913 

Jan. 


29 


Cash. January month. (28) 


100 


00 


1913 

Ja?i. 31 Loss. (36) 


12 


100 


H 


00 


INTEREST and DISCOUNT. 


1913 

Jan. 


17 

31 


Cash. Note Kings Dank. (15) 
Gain. (34) 


6 

12 


2 

23 

50 

00 

25 

50 




21 

25 


Cash. G. Gray , Inv. (18) 
Do. /. Innes Note. (21) 


25 


25 


00 

50 


50 


Portfolio Section 11. 


COPYRIGHT, 1913, BY JOHN BRAMWELL. NEW YORK CITY 


COMPLETE IN FIFTEEN SECTIONS 






































































































DEBIT SIDE 


LEDGER 


CREDI T SIDE 


INSURANCE. 


1913 

Jan. 

11 

J. Jeopardy. (10) 

Folio 

5 

20 

00 

1913 

Jan. 

31 

Unearned Premiums. (31) 

Folio 

18 

90 








31 

Loss. (37) 

12 

1 

10 





20 

00 





20 

00 

Feb. 

1 

Balance Unearned. (47) 


18 

90 








FREIGHT and EXPRESS. 



LOSS AND GAIN. 


1 





1913 



1 



31 

Furn. & Fixt. Depreciation (32) 

8 

3 

00 

Jan. 

31 

Interest & Discount. (34) 

11 

23 

00 


Rent. (35) 

11 

100 

00 



Mdse. Pur A/c. gain. (40) 

9 

525 

00 


Wages. (36) 

11 

100 

00 








Insurance. (37) 

12 

1 

10 








Freight <Sf Express. (38) 

12 

10 

00 








General Expense. (39) 

12 

37 

50 








Gain. A. Aaron. (41) 

8 

148 

20 








Do. B. Burr. (42^) 

8 

88 

92 








Do. C. Coe. (43) 

8 

59 

28 










548 

00 




548 

00 


Portfolio Section 12. 


COPYRIGHT 1913, BY JOHN BRAMWEL L. NEW YORK CITY 


COMPLETE IN FIFTEEN SECTIONS 










































































































































TRIAL BALANCE 


13 


FOLIO 


8 

8 

8 

8 

9 


9 


10 

11 

11 

11 

11 


12 


12 
12 
C. B. 


A. AARON 

B. BURR 

C. COE 

FURNITURE AND FIXTURES 

MERCHANDISE PURCHASE 

MERCHANDISE SALES 

G. GRAY 

J. JEOPARDY 

RENT 

WAGES 

INTEREST AND DISCOUNT 
INSURANCE 

FREIGHT AND EXPRESS 
GENERAL EXPENSE 
CASH BALANCE 


ACCOUNTS 


/ 


January 31st, 1913. 


DEBIT 


300 

900 


100 

100 

20 

10 

45 

669 

2144 



CREDIT 


400 

225 

150 


00 

00 

00 


1176 

150 

20 


37 

00 

00 


23 


00 


2144 


37 


COPYRIGHT, 1013, BY JOHN BRAMVJELL, NEW YORK CITY. 


Portfolio Section 13. 

COMPLETE IN FIFTEEN SECTIONS. 

































INVENTORY m 


14 



■tuT IQI.1 RY JOHN BRAMWELL, NEW YORK CITY. 


Portfolio Section 14 

COMPLETE IN FIFTEEN SECTIONS. 



































READ LEISURELY. 


15 


A large number of books have been printed on the art and science of Book-keeping and Accounting, and 
it is quite likely many more will be. There is, however, no standard authority on the subject, and it is quite 
likely there never will be. You must study it like the violin, which never has more than four strings, and yet is 
capable of being made anything from an instrument of torture to a thing of beauty and a joy forever. It all 
depends how it is handled. The "Home, Sweet Home” tune in double entry book-keeping has here been 
practically put into the student’s head and hands; if he is anxious and determined to join the profession and 
rise to the concert pitch of efficiency there is nothing in the world to prevent him doing so in a comparatively 
easy and short time. As a prefix study to the preceding lessons the following description or nature of some 
accounts are given. 

RESOURCES (or ASSETS): Real Estate, Machinery, Horses, Wagons, Furniture, Fixtures, Merchandise and 
Supplies on hand, Cash, Bills Receivable, Money loaned out by you; any account showing money 
owing to you for Mdse, sold or money advanced by you, on deposit, etc. 

LIABILITIES : Accounts showing money of your own or others invested in the business, Deposits of other 
people’s money placed with you as a bond or for any other purpose. Any account showing money 
owing by you for Mdse, or supplies bought, services rendered or expenses incurred in conduct¬ 
ing the business. Money loaned to you, Bills Payable, etc. 

GAINS : Rents derived from Real Estate, etc. Interest received on Money loaned or Notes, etc. Discount 
received for settlement of bills owing. Profit made in the buying and selling of merchandise. 

LOSSES : Depreciation of Machinery, Furniture, Equipment, etc. Expense incurred in the way of "keeping 
things going,” to use a customary phrase, such as Wages, Traveling Expenses, Commissions, 
Cartage, Rents of buildings, Taxes, Legal fees, Insurance, Repairs, etc. Interest paid by you on 
money borrowed, Notes, etc. Discount allowed customers. 


NEVER CONSIDER YOURSELF TOO WELL INFORMED TO READ OR LISTEN TO WHAT OTHERS MAY SAY 
ON THE SUBJECT. 


Portfolio Section 15. 


COPYRIOHT, 1013, BY JOHN BRAMWELL. NSW YORK CITY. 


COMPLETE IN FIFTEEN SECTIONS 













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